Moderation in customer CapEx could slow revenue growth
If major customers reduce network expansion after current catch-up phase, tower and tenancy additions may decelerate.
INDUSTOWER / Q3-FY26 / risks
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Indus Towers · Material risks, their source context, and severity in the latest available quarter.
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Material risks this quarter
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Energy margin improvement may not sustain due to seasonality
EBITDA margin benefited from seasonal energy cost reduction; management cautioned that longer-term view is needed.
Africa expansion carries execution and financial risks
Late entry into competitive African markets with organic build may face slower ramp-up and uncertain returns.